BP extends Deepwater Horizon contract

Transocean’s ultra-deepwater semisubmersible Deepwater Horizon has been awarded a three-year contract extension by BP for operations in the US Gulf of Mexico commencing in September 2010. Estimated contracted revenues related to the three-year contract extension are approximately $544 million.

The Deepwater Horizon is one of 41 high-specification floaters in the Transocean fleet, 20 of which are ultra-deepwater drillships and semisubmersible rigs. Capable of operating in water depths up to 10,000 ft, the Deepwater Horizon entered service in 2001 and recently set the world record for the deepest oil and gas well at 35,050 ft total vertical depth, drilled for BP.

The Deepwater Horizon recently set a world record for deepest well at 35,050 ft.